Despite current market tensions, what are investors thankful for? Even if the U.S. Thanksgiving is something you don’t celebrate, the recent rally among major stock markets could be some cause for celebration.
But this rising market tide isn’t lifting every ship. Many companies are seeing lower share prices on account of their sectors, tax loss season, or just a lacklustre performance.
As we head into the holiday season and prepare for Christmas once again, traders on the Bullboards are keeping their focus on value in the markets. Whether they are looking for a low entry point or discussing their long holds, there has been plenty to discuss lately for the investors and analysts who frequent Stockhouse.
In Canada, the cannabis, resource and industrial sectors have made a lot of noise this autumn season, and in this week’s Buzz we look at some of those companies that have been talked about on the Bullboards. In some cases, the opportunity for investors has been clear-cut, while in others, a lack of information makes for deep-dive discussions into what’s available.
Cannabis company Canopy Growth Corp. (TSX:WEED, Forum) has notched a court-approved sale of its BioSteel sports drink subsidiary.
In a news release, the Smith Falls, Ontario-based cannabis company stated the court-approved decision comes after BioSteel entered into creditor protection back in September.
The company stated the court approved the transactions for all of the assets related to BioSteel Canada and BioSteel Manufacturing.
“We are pleased that this process has identified two qualified buyers for the BioSteel brand and assets,” Judy Hong, CFO of Canopy Growth, said in a statement. “The elimination of the operating loss and cash burn as a result of ceasing to fund BioSteel has already significantly enhanced Canopy Growth’s financial position.”
BioSteel Canada was founded in 2009 and was acquired by Canopy Growth in 2019 in its quest to diversify its portfolio with beverages.
Clean technology company Exro Technologies Inc. (TSX:EXRO, Forum) has determined the first in-field pilot location for its Cell Driver energy storage system in partnership with Red Deer Polytechnic in Alberta.
Red Deer Polytechnic – a public comprehensive polytechnic institute serving more than 6,300 students – will purchase a Cell Driver system with the intention to integrate it into its on-campus Energy Innovation Centre by Q1 2024. The integration will follow the Cell Driver’s UL certification, which is expected in Q4 2023.
The pilot with Red Deer Polytechnic is the first of several planned over the coming months across the restaurant, vertical gardening and warehousing industries, to support the Cell Driver’s ability to reduce annual electricity bills and generate payback of less than four years.
“We are thrilled to announce the first of several near-term pilot projects for our Cell Driver battery energy storage system technology,” Sue Ozdemir, Exro Technologies’ CEO, said in a statement. “The pilot projects represent our ability to commercialize the Cell Driver in parallel to the final months of UL testing. These pilots will serve to demonstrate our best-in-class battery control through the collection of real-time metered data on commercial industry-building applications in North America. The commercial and industrial industry is a growing sector forecasted to be up to US$14 billion by 2027 (McKinsey et al, 2023). Exro is well-positioned to become a market leader for C&I energy storage applications.”
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Exro initially announced the agreement in Q1 2023 under an NDA, contingent on successful validation. The validation process involved the integration of a Coil Driver and top five global NDA partner-supplied motor into a prototype vehicle.
The Coil Driver system is also being integrated into other commercial vehicle partner platforms in Q4 2023 and Q1 2024.
New Found Gold Corp. (TSX-V: NFG, Forum) continues to impress and just completed its excavation of Keats Trench and a Phase 1 Mapping Program. The crew managed to expose a 200-metre-long by 70-metre-wide high-grade east-west vein that is host to a significant amount of visible gold as shown at the top of the page.
The team called this a “particularly well-mineralized vein” that is associated with several key intercepts:
|
Hole No.
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
Zone
|
|
NFGC-20-23
82.65
|
124.00
|
41.35
|
22.3
|
Keats Main
|
|
Including
|
93.65
|
108.2
|
14.55
|
57.4
|
|
Including
|
93.65
|
94.00
|
0.35
|
1120
|
|
Including
|
101.80
|
104.40
|
2.60
|
140.8
|
|
Including
|
118.85
|
123.40
|
4.55
|
15.2
|
|
NFGC-20-37
|
9.00
|
19.30
|
10.30
|
25.0
|
Keats Main
|
|
NFGC-20-41
|
11.70
|
22.10
|
10.40
|
22.5
|
Keats Main
|
|
Including
|
13.00
|
16.70
|
3.70
|
58.9
|
|
NFGC-20-59
|
38.65
|
43.30
|
4.65
|
131.1
|
Keats Main
|
|
NFGC-21-80
|
49.45
|
88.50
|
39.05
|
25.8
|
Keats Main
|
|
Including
|
62.70
|
72.80
|
10.10
|
58.5
|
|
Including
|
78.65
|
88.50
|
9.85
|
39.5
|
|
A second phase program of detailed trench mapping and sampling is set to begin by spring 2024.
Source: New Found Gold Corp.
This coming weekend may be a relatively quieter one on the U.S. market scene with markets taking a recess, but you can bet the news and value scores won’t stop flowing through the Stockhouse Bullboards. For previous editions of Buzz on the Bullboards, click here.
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